Constellation Brands (NYSE:STZ) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Constellation Brands (NYSE:STZ) in a research report released on Tuesday, Benzinga reports. Royal Bank of Canada currently has a $308.00 target price on the stock.

A number of other equities research analysts also recently commented on the company. Barclays raised their target price on Constellation Brands from $287.00 to $295.00 and gave the company an overweight rating in a report on Friday, July 19th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $320.00 to $307.00 and set an overweight rating for the company in a research note on Tuesday, September 3rd. Morgan Stanley cut their price target on Constellation Brands from $305.00 to $280.00 and set an overweight rating for the company in a research note on Monday, August 26th. UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a buy rating for the company in a research note on Monday, September 9th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $296.78.

Constellation Brands Stock Performance

NYSE:STZ opened at $248.34 on Tuesday. The firm’s fifty day moving average price is $245.66 and its 200 day moving average price is $253.90. Constellation Brands has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm posted $2.91 EPS. Constellation Brands’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Constellation Brands will post 13.53 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 in the last 90 days. 12.19% of the stock is owned by company insiders.

Institutional Trading of Constellation Brands

Institutional investors have recently modified their holdings of the company. New Millennium Group LLC acquired a new position in Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the 2nd quarter worth approximately $32,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands during the 1st quarter worth approximately $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Constellation Brands during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.